rethinking banking
Post on 16-Jan-2015
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Rethinking banking
Question # 1
What if the purpose of banks is to help people
connect / exchange ideas?
Among the digital opportunities for European banks are integration with
social media.
http://www.mckinsey.com/Insights/Business_Technology/The_rise_of_the_digital_bank
Banks’ web 2.0 communication gap
http://www.strategyand.pwc.com/media/uploads/Strategyand-Web-2.0-Banking.pdf
Banks could start blogs, for example, enabling
discussions of specific economic developments, new services, or the latest research of interest to target customers.
http://www.strategy-business.com/article/11202?pg=all
The bank’s new role is not only to handle transactions but to
facilitate cooperation for
the common good.
http://kolindkuren.dk/2012/03/01/hvis-banker-blev-bev%C3%A6gelser/
Lars Kolind
Further inspiration
http://www.slideshare.net/frankcalberg/what-is-the-company-purposehttp://www.slideshare.net/frankcalberg/11-advantages-of-using-a-blog-for-teachinghttp://www.slideshare.net/frankcalberg/conversation-exercises
Question # 2
What if everyone could lend and borrow money
to / from everyone?
Further inspiration
http://www.slideshare.net/frankcalberg/crowdfunding-35835254
Question # 3
What if people pay each other through e-mail,
phone, and/or social media?
Sourceshttps://www.dwolla.com/https://www.klickex.com/https://www.paypal.com/https://www.pesapal.com/https://squareup.com/https://transferwise.com/https://venmo.com/
More than a billion people in emerging and
developing markets have cell phones but
no bank accounts.
http://mckinseyonsociety.com/downloads/reports/Economic-Development/Mobile-money-Getting%20to-scale-in-emerging-markets.pdf
Of the 700 end-to-end processes in banks, for example opening an account, about half
can be fully automated.
http://www.mckinsey.com/insights/strategy/strategic_principles_for_competing_in_the_digital_age
A key challenge for senior managers in banks will be sensitively reallocating the savings from automation to the talent needed to
forge digital businesses.
http://www.mckinsey.com/insights/strategy/strategic_principles_for_competing_in_the_digital_age
Further inspiration
http://www.slideshare.net/frankcalberg/going-digital-37899425
Question # 4
How should bankers be paid?
Fixing the culture will require creating a compensation system
that better aligns or balancesshareholders’ interests and the broader society’s interests with the individual’s interests.
http://www.bloomberg.com/news/2010-11-08/morgan-stanley-s-gorman-says-hero-culture-needs-to-change-to-limit-risks.html
Mr. James Gorman
CEO, Morgan Stanley
A shared value approach would have
led financial services companies to create innovative products that prudently increased access to home ownership.
http://hbr.org/2011/01/the-big-idea-creating-shared-value/ar/8
Further inspiration
http://www.slideshare.net/frankcalberg/how-are-people-paid-for-what-they-do
Question # 5
What if empathy is the most important
skill of bankers?
http://novemberlearning.com/an-interview-with-michael-wesch-part-2-of-3/
At HSBC, empathy is the most important skill.
Further inspiration
http://www.slideshare.net/frankcalberg/customer-needshttp://www.slideshare.net/frankcalberg/social-competence
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